… up 2.7 points (2.2 percent) from March and setting a new record high. The continued price strength stemmed from higher world poultry, pig and bovine meat prices…
FAO Food Price Index retreated slightly in April from the all-time high registered in March
World Food Situation
UN FAO Food Price Index
May 6, 2022
» The FAO Food Price Index* (FFPI) averaged 158.5 points in April 2022, down 1.2 points (0.8 percent) from the all-time high reached in March, though still 36.4 points (29.8 percent) above its value in the corresponding month last year. The drop in the FFPI in April was led by a significant downturn in the vegetable oil sub-index, along with a slight decline in the cereal price sub-index. Meanwhile, sugar, meat and dairy price sub-indices sustained moderate increases.
» The FAO Meat Price Index* averaged 121.9 points in April, up 2.7 points (2.2 percent) from March and setting a new record high. The continued price strength stemmed from higher world poultry, pig and bovine meat prices. The poultry meat price increase was driven by solid demand amidst tight global supplies, reflecting disruptions to exports from Ukraine and rising avian influenza outbreaks in the Northern hemisphere. Meanwhile, pig meat prices rose further, although less steeply than in March, on the prolonged low supply of slaughter pigs in Western Europe and high internal demand in large producing countries. World bovine meat prices increased moderately, reflecting high export volumes from Brazil, despite the low slaughter cattle supply. With this increase, bovine meat prices reached a new record high. Regarding ovine meat, the pandemic-related lockdowns and port delays in China eased the country’s meat purchases, pushing prices marginally lower.
» The FAO Cereal Price Index averaged 169.5 points in April, down 0.7 points (0.4 percent) from the record high reached in March (since 1990). After surging to a record level in March, international coarse grain prices dropped by 1.8 percent in April, led by a 3.0 percent decline in maize prices, as seasonal supplies from ongoing harvests in Argentina and Brazil helped ease the pressure on markets. World sorghum prices also declined in April by 0.4 percent, while tight supplies pushed barley prices up by 2.5 percent. International wheat prices edged upwards in April, albeit marginally, gaining 0.2 percent. Continued blockage of ports in Ukraine and concerns over 2022 crop conditions in the United States of America kept prices elevated, but the price increases were moderated by larger shipments from India, higher-than expected exports from the Russian Federation, and slightly dampened global demand as a result of high prices. International rice prices in April went up 2.3 percent from their March levels, sustained by a combination of strong local demand in various Asian exporters, purchases by Near Eastern and Chinese buyers and weather setbacks in the Americas.
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